Tag Archives: bitcoins

Bitcoin’s strongest narrative is “digital gold.” Investors buy it not out of an expectation that it will behave like gold behaves in the market today, but that it will some day take on the historic importance that gold has held across cultures and ages. My colleague George Kaloudis recently reminded me that there’s one important aspect in which bitcoin will never be like gold: In a vault or in the ground, gold will always be gold; bitcoin, however, is a technology, and a technology… Source link

Surging usage of Polygon Network’s Ethereum layer 2 scaling solution allowed that platform’s token (MATIC) to largely escape the fate of other cryptocurrencies in May brought down by crash in the price of bitcoin. MATIC, currently ranked 18th as per market capitalization by Messari, rallied 120% in May even as bitcoin fell by 35%. Ether, polkadot, cardano, XRP, and decentralized finance (DeFi)-blue chips suffered bigger losses, pushing the total market capitalization of the crypto… Source link

By Tom Westbrook SINGAPORE (Reuters) -Bitcoin slipped 4% on Friday after Tesla boss Elon Musk was at it again – this time firing off a few tweets that appeared to lament a breakup with the cryptocurrency. Tesla’s big position in bitcoin and Musk’s large personal following often set crypto markets on edge whenever he tweets, and the price fell after he posted “#Bitcoin”, a broken-heart emoji and a picture of a couple discussing a breakup. Musk followed that up by posting a breakup comic strip… Source link

Reuters Top Credit Suisse European FIG banker joins Jefferies -sources LONDON (Reuters) -Credit Suisse has lost a key dealmaker in Europe, two sources familiar with the move said, as a pay-driven exodus of top investment bankers which began in the United States spreads. Switzerland’s second-largest bank is struggling to retain staff after trimming bonuses to tackle losses of more than $5 billion stemming from the collapse of U.S. investment firm Archegos and the impact of suspending funds… Source link

Bitcoin’s in a slump — here’s why Warren Buffett has hated it all along The past month and a half has been bumpy for Bitcoin. After a bully first quarter of 2021 that led to an all-time peak of $63,000 per unit in mid-April, the world’s leading digital currency has since lost more than 40% of its value, settling at just over $35,000 on Friday, May 28. Holdout investors who only a couple of months ago may have thought they’d missed an opportunity of a lifetime are now sighing with relief;… Source link

May 19 was the worst day bitcoin has seen this year and left some watchers wondering: did it destroy bitcoin’s narrative? The answer is, for those watching closely, it likely strengthened it.   Here’s why: bitcoin proved itself on Wednesday when it saw its second biggest volume day of the year, and market infrastructure did not break. Some exchanges suffered outages, but liquidity was available, as spot volumes show. Moreover, while a drop of over 30% may be dizzying for new buyers high… Source link

(Bloomberg) — Bitcoin and other major cryptocurrencies slumped after the People’s Bank of China reiterated that digital tokens can’t be used as a form of payment. The largest token fell as much as 2.3% to $42,309 in early Asian trading Wednesday, continuing a weeklong slide sparked by Elon Musk’s back-and-forth comments on Tesla Inc.’s holdings of the coin. Ether, Dogecoin and last week’s sensation, Internet Computer, also retreated. “This is the latest chapter of China tightening… Source link

(Bloomberg) — Bitcoin’s domination of total cryptocurrency market value is declining as its next-biggest rival Ether reaches the $3,000 milestone, suggesting room for more than one winner among digital tokens as the sector evolves. The largest digital currency now accounts for about 46% of total crypto market value of $2.3 trillion, down from roughly 70% at the start of the year, according to tracker CoinGecko. Second-ranked Ether is up to 15% and a group of others outside the top few has… Source link

Bloomberg Warren Buffett Sees a ‘Red Hot’ Economy With Creeping Inflation (Bloomberg) — Warren Buffett delivered a clear verdict Saturday on the state of the U.S. economy as it emerges from the pandemic: red hot.“It’s almost a buying frenzy,” the Berkshire Hathaway Inc. chief executive officer said during the conglomerate’s annual meeting, which was held virtually from Los Angeles. “People have money in their pocket and they’re paying higher prices,” he said.Buffett… Source link

Bloomberg Buffett’s Berkshire Gets More Cautious on Stocks and Buybacks (Bloomberg) — Warren Buffett’s capital-deployment machine pulled back on several fronts at the start of the year as the billionaire took a more cautious stance on stocks.Berkshire Hathaway Inc.’s net stock sales in the first quarter were the second-highest in almost five years and the conglomerate, where the billionaire is chief executive officer, slowed its buyback pace, according to a regulatory filing Saturday…. Source link